Nifty again falls from 6066-6077 range, Technicals as per FII data

FIIs bought 23640 Index Future worth 714 cores with net Open Interest increasing by 35590 contracts.FII’s went long in Nifty Futures and Still maintaining shorts in Bank Nifty futures. Nifty is not doing much moves and we are seeing Stock Specific moves, Today we had minted good money in LT and Asian paint as discussed in morning analysis.

As discussed in Weekly analysis Nifty will find it difficult to move above the down trending trendline and today also made the high of 6064 and turned back. Any move above 6080 can see again bullish move. Negative divergence are visible in hourly and daily charts, As i usually say lets the price confirm with break below 5961 to short the market.As per data analysis Nifty should show a trending move in next 2 days. Traders Worst Enemy

Nifty Future July Open Interest Volume is at 1.41 cores with liquidation of 11.7 lakhs in Open Interest, Rollovers have started taking place and 18 lakhs got rollovered in Aug series, mostly long.

Total Future & Option trading volume at 1.46 lakh with total contract traded at 1,8 lakh , PCR (Put to Call Ratio) at 1.24, .VIX trading at 17.63 falling down once it broke the rising trendline.

6000 Nifty CE is having highest OI at 59.7 lakhs with addition of 2.7 lakhs in OI,6200 CE liquidated 0.55 lakh in OI and having second highest OI at 58.2 lakh and premium at Rs 2, so short covering by smart money and also showing expiry should happen below 6200. 5900-6200 CE liquidated 1.7 lakh in OI.